Thursday, 30 October 2014 - 11:01
Seylan Tikiri excels at SLIM Brand Excellence Awards backed by an unmatched turnaround performance
Seylan Tikiri was lauded as the 'Best Turnaround Brand' Silver award winner at the recently held SLIM Brand Excellence Awards 2014. Twenty two years since its introduction, the Tikiri savings account has become a flagship brand of Seylan Bank.
Speaking of the distinction Seylan Tikiri received at the SLIM Brand Excellence Awards, Tilan Wijeyesekera, Deputy General Manager- responsible for Liability Product Management, Marketing, Digital Alternative channels and Housing loan product management, at Seylan Bank PLC said, "[Seylan] is very happy and humbly thankful to SLIM for having seen our performance and for giving Seylan Tikiri this accolade."
In its twenty six years of service to the public, "the bank with a heart" has transformed the paradigms of the banking system in Sri Lanka and introduced numerous innovative concepts to banking. As such, the Seylan Tikiri account is the pioneer branded and value added minor savings account and introduced a gift scheme and an attractive bonus interest for minors.
"The performance says it all," states Mr Wijeyesekera, speaking of the current status of the product.
The product was relaunched in acknowledgment of its twenty first year milestone celebrated last year and has shown remarkable success and growth since. The Bank reports that the new accounts have shown a whopping growth rate of 144% in the 12 months post vs pre re-launch period.. and a value growth of 45% which is a phenomenal achievement and probably unmatched by any other product or category in the industry.
Tilan Wijeyesekera, further went on to explain that the Marketing and Liability Product Management Departments of the Bank have conducted extensive and comprehensive research prior to the relaunch. The lifestyles of the children and parents, as well as current trends in technology among other factors were carefully analysed, and a new gift scheme was introduced as a result that catered to the needs and desires of the modern day, technologically advanced potential customers and additional gift slabs have too been introduced. The Bank has also introduced many concepts with the objective of inculcating the habit of saving in children from a young age and their 'Seylan Tikiri Pola' is a popular concept which encourages entrepreneurship in children.
The DGM Marketing, Tilan Wikeyesekera stated that the success behind Seylan Tikiri lies in the new product proposition, attractive communication platforms and engagement activities adopted by the Bank to promote the product among children and parents. He stated that the focused approach adopted by his teams in Liability Product Management and Marketing including Brand Management, media and communications, promotions and research together with the rest of the branch staff and support departments contributed immensely to this success by adopting a truly 360 degree marketing approach starting with developing valuable insights through an exhaustive research process, product development, branding and communications as well as internal marketing and training and motivation as well as the tremendous amount of focused brand engagement activations conducted. He also stated that as an example over 100 branches islandwide would be organising special events such as Seylan Tikiri Pola’s, Seylan Tikiri carnivals, kite festivals, and art competitions etc etc..in addition to other acitivities to celebrate the children's month throughout the month of October in addition to its traditional marketing processes..
The Bank is also credited as the first ever Bank in Sri Lanka to design a mobile gaming app for children named ' Seylan gift rush', introduced last year coinciding with Children's Day.
Speaking of the future of Seylan Tikiri, Mr Wijeyesekera stated that the Bank is witnessing a growth on growth scenario and that the future of Seylan Tikiri is bright. As a flagship brand of the Bank, the Tikiri accounts receive much focus from the entire Seylan family and the Bank also offers a ' Kids' banking day' once a month on a weekend where the child can experience banking and take part in the activities organised by the Bank.
The Bank is also anticipating on introducing a number of innovative products to the market in the near future and Mr Wijeyesekera expresses his gratitude to each and every staff member of Seylan Bank for their enthusiastic support that contributed to the success of Seylan Tikiri including the tremendous performance as well as the winning of this award. And finally last but not least he emphasized the need to thank all of Seylan Banks customers for their trust placed in the banks products and services which make achievements of this nature possible. He concluded by promising to develop new and more innovative products to the market in the coming year in order to deliver products with greater value for Seylan Customers.